Lender Amigo said it was looking at options including the sale of the company in an effort to maximise shareholder value after Richmond group, its majority shareholder, said it was willing to sell its stake in the company.
Amigo launched a strategic review and formal sale process with a view to maximising value for its shareholders, which may result in a sale of the company or a sale of some or all of the company's business.
Richmond group said it was a willing seller of its 60.66% holding in Amigo.
The company had not received any approaches at the time of this announcement, Amigo added.
At 8:48am: (LON:AMGO) Amigo Holdings Plc share price was -29.35p at 38.65p